TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,085 shares of the electronics maker’s stock after acquiring an additional 74 shares during the quarter. Lee Danner & Bass Inc.’s holdings in TE Connectivity were worth $433,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in TE Connectivity during the fourth quarter valued at approximately $10,759,000. Nordea Investment Management AB raised its position in TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after acquiring an additional 41,198 shares in the last quarter. SG Americas Securities LLC raised its position in TE Connectivity by 518.3% during the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after acquiring an additional 130,515 shares in the last quarter. Patten Group Inc. purchased a new position in TE Connectivity during the fourth quarter valued at approximately $220,000. Finally, Ninety One North America Inc. raised its position in TE Connectivity by 39.4% during the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after acquiring an additional 17,322 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $143.77 on Tuesday. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The stock has a market cap of $44.68 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The business has a fifty day moving average of $142.66 and a 200-day moving average of $135.86. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the business earned $1.53 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts predict that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. StockNews.com initiated coverage on TE Connectivity in a research report on Monday. They issued a “buy” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Truist Financial boosted their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Robert W. Baird lifted their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $153.30.

Insider Transactions at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.